Cal Dive Files for Chapter 11

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Josh Beckerman Cal Dive International Inc. has filed for Chapter 11 bankruptcy protection, planning to operate normally while it looks to reorganize or sell its core subsea contracting business. The company sends divers under water to install and repair ...

HSBC Hong Kong February PMI Rises to 50.7; One-Year High

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Chester Yung HONG KONG--The HSBC Hong Kong Purchasing Managers Index touched a one-year high in February as new orders and output rose, signaling an improving business environment in the city's private sector. HSBC said Wednesday that February's manufacturing PMI ...

Indian Shares Rise on Rate Cut, Rest of Asia Mixed -- Update

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Chao Deng Stocks in India rose to a fresh high Wednesday after the country's central bank surprised markets with another interest-rate cut. The S&P; BSE Sensex hit 30,024.74, surpassing a previous record of 29,844.16 from Jan. 30, after the ...

Dollar Unchanged Against Yen, Euro Ahead of Jobs Data, ECB

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Hiroyuki Kachi The dollar remained unchanged against the yen and the euro Wednesday in Asia trade, with investors sidelined ahead of key events and data later this week including U.S. jobs data. Around 0450 GMT, the dollar was at ...

Turkey's Lira Slumps to Record Low Amid Rate Cut Expectations

TODAY: March 4, 2015 PUB DATE: March 4, 2015

ISTANBUL--Turkey's currency the lira slumped to a record low against the dollar on Wednesday as political pressure on the central bank and expectations of premature interest-rate cuts fueled a selloff for a sixth consecutive day. The currency dropped by 0.5% ...

India Joins the Easing Party in Bid to Weaken Rupee

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Anjani Trivedi The Reserve Bank of India joined other central banks Wednesday in voicing concerns about a strong currency as it cut interest rates for the second time this year. Central banks have been easing monetary policy in recent ...

European Stocks Retrace Early Gains

TODAY: March 4, 2015 PUB DATE: March 4, 2015

European stocks retraced early gains on Wednesday, pressured by slightly softer-than-expected economic data in the region. Having opened around 0.3% higher, the Stoxx Europe 600 sagged into the red after the eurozone's composite Purchasing Managers Index for February was revised ...

Citigroup Deal Shrinks the Bank's Umbrella

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By AnnaMaria Andriotis And Mike Spector Another piece of banking is moving to the shadows. Citigroup Inc., the nation's third-largest bank by assets, confirmed Tuesday that it would sell its large U.S. subprime-lending business, OneMain Financial, to Springleaf Holdings Inc., ...

Shanghai's Free-Trade Zone Fails to Impress U.S. Companies

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Colum Murphy SHANGHAI--U.S. companies in Shanghai are skeptical about the business benefits of the city's pilot free-trade zone and have echoed concerns by American companies elsewhere in China about growing antiforeign sentiment and slowing economic growth. An annual survey ...

China February HSBC Services PMI Edges Up

TODAY: March 4, 2015 PUB DATE: March 4, 2015

BEIJING--The HSBC China Services Purchasing Managers' Index edged up to 52.0 in February after dropping to a six-month low of 51.8 in January, HSBC Holdings PLC said Wednesday, pointing to a modest recovery outside the nation's factory sector. The reading ...

Euro Nears 11-Year Low Against Dollar -- Update

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Josie Cox The euro teetered on the edge of an 11-year low against the U.S. dollar Wednesday, on the eve of a key meeting at which the European Central Bank is expected to shed more light on how it ...

UK Government Wins Court Case on Euro Clearing

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Viktoria Dendrinou BRUSSELS--A European Central Bank policy requiring British companies managing trades in euros to relocate to the eurozone should be annulled, Europe's second-highest court ruled Wednesday, marking a victory for the U.K. government which had argued such a ...

European Stocks Retrace Early Gains

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Josie Cox European stocks retraced early gains on Wednesday, pressured by slightly softer-than-expected economic data in the region. Having opened around 0.3% higher, the Stoxx Europe 600 sagged into the red after the eurozone's composite Purchasing Managers Index for ...

Macquarie Group to Buy Portfolio of 90 Commercial Airliners

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Robb M. Stewart MELBOURNE, Australia--Australia's Macquarie Group Ltd. has struck a deal to buy a portfolio of 90 commercial airliners for $4 billion, bolstering its aircraft-leasing business and further diversifying away from its investment-banking roots. The bank said it ...

Malaysia Economic Growth Likely to Moderate in 2015 - IMF

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Jason Ng KUALA LUMPUR--Malaysia's economy will likely expand at a slower pace this year as consumer spending declines due to the introduction of a consumption tax and slower credit growth, the International Monetary Fund said Wednesday. Gross domestic product ...

India Central Bank Cuts Benchmark Rate to 7.5%

TODAY: March 4, 2015 PUB DATE: March 4, 2015

MUMBAI--The Reserve Bank of India surprised markets Wednesday with an unscheduled cut to its key lending rate, indicating that it is joining a widespread easing in monetary policy the world over. The RBI cut its main repurchase rate by 0.25 ...

India's Services Sector Logs Quickest Rise in 8 Months

TODAY: March 4, 2015 PUB DATE: March 4, 2015

NEW DELHI--A gauge of services activity in India rose to an eight-month high thanks to strong growth in new orders. The seasonally-adjusted Service Sector Business Activity Index rose to 53.9 from 52.4 in January, according to HSBC research released Wednesday. ...

Alibaba Buys Stake in China Entertainment Company Enlight Media

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Gillian Wong BEIJING-- Alibaba Group Holding Ltd. is buying a $382 million stake in Chinese production company Beijing Enlight Media Co., furthering its push into show business. Enlight Media said in a filing on the Shenzhen Stock Exchange that ...

Russian Service Sector Activity Slows in February

TODAY: March 4, 2015 PUB DATE: March 4, 2015

By Andrey Ostroukh MOSCOW--Activity in Russia's service sector slowed in February at its fastest rate in six years and the outlook remained negative, the HSBC Manufacturing Purchasing Manager's Index showed Wednesday. The headline services PMI index fell to 41.3 in ...